Rejuvenated gold producer Red 5 Limited (ASX: RED) is trading at around half the valuation of many of its Australian gold peers, according to respected Sydney-based analyst Warwick Grigor of Far East Capital.
Plus, vanadium emerging as TNT for revitalised TNG
It is not often that this column kicks off with an item on Rio Tinto, or any mining company from the big end of town for that matter.
But the convention is broken today for a good reason. It seems that Rio has made a copper discovery of note in Western Australia’s remote Paterson province.
The find is suspected to be roughly 150km north-west of Newcrest’s Telfer gold-copper mine (which has produced more than 10 million ounces of gold with a very handy copper kicker over the years) on ground wholly-owned by Rio.
Cobalt stocks led the way up in a short week on the ASX but the more interesting issue which is yet to be picked up by investors is the potential for a sea-change in iron ore, where the sell-off in low-grade producers could be coming to an end.
The newest major gold mine in WA’s rich northern Goldfields has come to life, with Dacian Gold pouring its first bullion at the $197 million Mt Morgans gold project, 20km west of Laverton (reports The West Australian).
Northern Star Resources will take a fresh look at the exploration potential of the four million ounce South Kalgoorlie gold operations after it was handed the keys by Westgold Resources last week (reports The Kalgoorlie Miner).
Gold will surge to the highest level in five years if a global trade war breaks out, according to Sprott US Holdings chief executive Rick Rule, who's been involved in the market for four decades (reports Bloomberg).
Key monetary indicators in the US, Europe, Japan, and China are flashing signals of an economic slowdown later this year, raising fears of a global recession in 2019 and a stock market slump without a shift in policy (reports Ambrose Evans-Pritchard in London’s Daily Telegraph).